Saturday, December 13, 2008

New York Mets owner Fred Wilpon, GMAC LLC Chairman J. Ezra Merkin and former Philadelphia Eagles owner Norman Braman who all invested in Wall Street veteran Bernard Madoff's alleged giant Ponzi scheme have called for Hank Paulson to use some of his TARP funds to cover their losses.

You can't find funds that are more toxic than this says Superwoman Nicola Horlick of Bramdean Alternatives Ltd. in London (10% of their funds have evaporated) and is supported by Union Bancaire Privee, Fairfield Greenwich Group and Tremont Capital Management of New York , Maxam Capital Management LLC reported a combined loss of $280 million on funds they had invested with Mr. Madoff.

BNP Paribas, Tokyo-based Nomura Holdings Inc. and Neue Privat Bank in Zurich are also in the hole for billions on behalf of their private clients.